Metlife American Life Insurance reports net profit of Rs 6.55 crore for Q1 2076/77; 12.64 lakh policies inforce

MetLife American Life Insurance Company (ALICO) has stated Rs 6.55 crore net profit till the first quarter of the fiscal year 2076/77. The profit was Rs 6.37 crore in FY 2075/76 in the same quarter. The net profit figure is without the profit generated from the actuarial valuation of assets and liabilities.

The company’s earnings from premium rose to Rs 1.14 arba in Q1 from Rs 96.46 crore in the corresponding quarter of FY 2075/76. The reserve fund of the company has also increased to Rs 2.16 arba from the corresponding year’s 1.58 arba.

Further, the company’s life insurance fund has also increased to Rs 17.04 arba from Rs 15.45 arba in the corresponding quarter of the previous year. The total number of policies in force is 12 lakh 64 thousand 789.

First Quarter Report